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Chevron Unit, ZL Chemicals Enter Into Surfactant Technology Licensing Deal

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Chevron (CVX) unit Chevron Technical Center and ZL Chemicals entered into a technology licensing agreement that allows ZL Chemicals to commercialize Chevron-developed chemical surfactant technology, the companies said Wednesday.

Under the agreement, ZL Chemicals will market products and services under the Vantis brand for enhanced oil recovery programs and new well optimization efforts in shale and tight reservoirs, according to the companies.

The companies said Chevron will continue developing next-generation advanced surfactant technologies for its own operations, while ZL Chemicals will commercialize products and services using the licensed technology.

Financial terms of the deal were not disclosed.

Chevron shares were 1.4% higher in early Wednesday trading.

Price: $176.27, Change: $+2.32, Percent Change: +1.34%

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